LatAmGrowth SPAC (LATG) Adjourns Early Liquidation Vote Again

proxy vote

LatAmGrowth SPAC (LATG) Adjourns Early Liquidation Vote Again

LatAmGrowth SPAC (NASDAQ:LATG) announced in a filing this morning that it will once adjourn its special meeting to liquidate early a second time and will reconvene it at October 5.

The proposals on its ballot would initiate the process of winding down the SPAC and return all trust capital to investors outside of $100,000 for dissolution expenses.

Despite officially asking its investors to close shop early, it appears to have automatically extended its deadline from September 27 to November 27 this week by contributing the lesser of $150,000 or $0.0375 per share to its trust.

That move and the continued delay suggest that LatAmGrowth may be in the process of negotiating a takeover of its sponsor economics with a new team. It still has about $58.6 million in its trust after seeing 56.9% of shares redeemed in an earlier extension.